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Dec 6, 2012
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president obama has the leverage in the fiscal cliff fight. he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that position. >> the only way we'll get action on this debt. we keep spending and spending and raising our debt by $6 trillion every obama term. that's what catastrophic. the republicans need to stick to the boehner rule. a dollar of spending cuts for every dollar in spending increases. why give in on taxes and the fiscal cliff fight when you will have all the leverage. megyn: simon? >> in the rasmussen poll that came out today the republicans lost 10 points since the election in the congressional generic fight. they are losing this economic argument right n
president obama has the leverage in the fiscal cliff fight. he's willing to let the tax go up on the middle class. on the debt increase he doesn't have the same leverage. bob woodward pointed out that tim geithner said to president obama if the republicans stick to their guns on the debt limit bill you cannot reto it. the consequences will be so clam to us that you cannot veto it. so obama would have capitulated. megyn: that's what simon is saying now. that we shouldn't put the country in that...
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Nov 29, 2012
11/12
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and going over the fiscal cliff. he is out campaigning. last year he was campaigning and he is not being president. he is not negotiating that he said he was going to be, he is campaigning and/or golfing. where is this story? i'm making two cases to the republicans and the democrats who listen. i believe we should have the negotiations on the fiscal cliff. that's two things. $500 billion tax increase, the 2001, 2003 tax cuts lapsing and sequestration of spending restraint. it is a good thing, but saving $100 billion, -- >> not a common republican point of view. a lot of defense cuts. >> the head of the conservative caucus, 60% of most conservative guys in the house, jim jordan said the only thing worst than the sequester would be not having the savings and you saw mitch mcconnell saying we aren't ending the sequester. people are drawing lines in the sand -- let's try to cut to it. >> it has to be on c-span only then would the president have to say and boehner would say your spending cuts are what? cbs and nbc hasn't
and going over the fiscal cliff. he is out campaigning. last year he was campaigning and he is not being president. he is not negotiating that he said he was going to be, he is campaigning and/or golfing. where is this story? i'm making two cases to the republicans and the democrats who listen. i believe we should have the negotiations on the fiscal cliff. that's two things. $500 billion tax increase, the 2001, 2003 tax cuts lapsing and sequestration of spending restraint. it is a good thing,...
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Nov 30, 2012
11/12
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lawmakers are no closer to avoiding the fiscal cliff, according to house speaker john boehner. each party blame the other for failing to outline considerable spending cuts. president obama sent vice president joe biden out today to do some holiday shopping and highlight the spors of renewing middle class tax cuts so families can feel more secure. biden went to a washington area costco and chatted it up with staff and was followed around the store by a huge crowd, as you can see. his favorite part like many who go to costco, try out the free samples. he spoke about the importance of renewing the tax cuts. >> so i think it is important that coming act now. i mean, right now. all it has to do is take a single vote to extend the middle class tax cuts. >> reporter: biden bought cookies, children's books and apple pie, and a 32-inch flat screen tv. he decline an offer to buy a set of tires saying i don't drive anymore. envelop the president had a notable lunch guest at the white house today. his former rival, mitt romney. the get-together mark their first meeting since facing off in
lawmakers are no closer to avoiding the fiscal cliff, according to house speaker john boehner. each party blame the other for failing to outline considerable spending cuts. president obama sent vice president joe biden out today to do some holiday shopping and highlight the spors of renewing middle class tax cuts so families can feel more secure. biden went to a washington area costco and chatted it up with staff and was followed around the store by a huge crowd, as you can see. his favorite...
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Dec 1, 2012
12/12
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, the so-called "fiscal cliff". the president took to the road, while republicans warned there's a deadlock in efforts to reach a deficit deal. >> now, of course, santa delivers everywhere. i've been keeping my own naughty and nice lists for washington. >> warner: the president chose a seasonal setting, a toy factory in hatfield, pennsylvania, and holiday imagery to press again for extending tax cuts for the middle class. >> if congress does nothing, every family in america will see their income taxes automatically go up on january 1. i mean, i... i'm assuming that doesn't sound too good to you. >> no. >> that's sort of like the lump of coal you get for christmas. that's a scrooge christmas. >> warner: in washington, republicans portrayed the road trip as so much humbug, at a time, they said, when negotiations are going nowhere. >> there's a stalemate. let's not kid ourselves. >> warner: house speaker john boehner said republicans remain willing to raise revenues, but not by raising tax rates. and he charged the whi
, the so-called "fiscal cliff". the president took to the road, while republicans warned there's a deadlock in efforts to reach a deficit deal. >> now, of course, santa delivers everywhere. i've been keeping my own naughty and nice lists for washington. >> warner: the president chose a seasonal setting, a toy factory in hatfield, pennsylvania, and holiday imagery to press again for extending tax cuts for the middle class. >> if congress does nothing, every family in...
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Dec 6, 2012
12/12
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the mandatory increases across the board taxes from everyone if we go over that fiscal cliff, you got to compromise. there's nothing wrong with compromise. to some liberals on the far left, conservatives on the far right, compromise is a dirty word. you should never compromise with the other side. they hate that. they rather go over the fiscal cliff but the overwhelming majority of americans totally disagree with those hard line positions on the extreme left and the extreme right. they want to compromise and they want a deal and they want the president and john boehner, the republican leadership and democratic leadership to come up with something that avoids going over the fiscal cliff. i think that's what that poll shows. >> let me change topics for a bit. news broke just before the program that republican senator jim demint is leaving. he decided to take over the heritage foundation. i have a question for you in that was this expected? he's a staunch conservative and opponent to craving into democrats and how do those things factor into a way ahead for republicans in the senate? >>
the mandatory increases across the board taxes from everyone if we go over that fiscal cliff, you got to compromise. there's nothing wrong with compromise. to some liberals on the far left, conservatives on the far right, compromise is a dirty word. you should never compromise with the other side. they hate that. they rather go over the fiscal cliff but the overwhelming majority of americans totally disagree with those hard line positions on the extreme left and the extreme right. they want to...
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Dec 5, 2012
12/12
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with about four weeks to go before that fiscal cliff of tax hikes and spending cuts gets triggered, negotiations still appeared at a standstill on tuesday. karin caifa tells us where everything stands. >> in the midst of a standoff with capitol hill republicans, president obama told bloomberg news that the latest plan put forth by house speaker john boehner, simply doesn't add up. the >> speaker's proposal right now is still out of balance. he talks about, for example, eight hundred billion dollars worth of revenues but he says he will do that by lowering rates. when you look at the math, it does does not work. >> not work. as negotiations as negotiations to avoid the so-called "fiscal cliff" continue, republicans were equally dismissive of the last proposal from the president. >> his proposal was so outlandish i don't think we should go back to the table until he puts something there that we can work with. >> the key sticking point between the two sides hasn't changed -- tax rates for the wealthy. >> the math is clear. the only way to accomplish these things is to allow the rates to go up on th
with about four weeks to go before that fiscal cliff of tax hikes and spending cuts gets triggered, negotiations still appeared at a standstill on tuesday. karin caifa tells us where everything stands. >> in the midst of a standoff with capitol hill republicans, president obama told bloomberg news that the latest plan put forth by house speaker john boehner, simply doesn't add up. the >> speaker's proposal right now is still out of balance. he talks about, for example, eight hundred...
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we need to avoid the fiscal cliff. >> one thing you want javier to agree to, to avoid the fiscal cliff. >> we need to have the spending cuts. >> give me an example? >> well, it is looking at the spending, entitlement reform, and growth in government. the president is moving in the wrong direction. he proposed higher taxes than he ever said during the campaign, more stimulus, more spending, that's moving us in the wrong direction. >> go ahead and respond. >> how much spending cuts do we want to see? i could tally up for you right now, $3 trillion with the spending cuts that we already enacted in law in the last year and a half. $1 trillion that came from the budget control act that was passed a year ago, that said a trillion dollars has to start coming up now, and that has begun. another trillion dollars which is going to be enacted through the sequester. we still have them. and we can move forward. that's another trillion, 1.2 trillion. let me give you the other 800 billion. we cut -- democrats without a republican vote, $716 billion in -- and we found $716 billion in savings through m
we need to avoid the fiscal cliff. >> one thing you want javier to agree to, to avoid the fiscal cliff. >> we need to have the spending cuts. >> give me an example? >> well, it is looking at the spending, entitlement reform, and growth in government. the president is moving in the wrong direction. he proposed higher taxes than he ever said during the campaign, more stimulus, more spending, that's moving us in the wrong direction. >> go ahead and respond. >>...
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Dec 7, 2012
12/12
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cliff balance. >> that's right. they say he is focused as you heard in that sound bite about taxes and that part of it. they are not hearing a lot about spending cuts which republicans obviously think is the big driver of the debt issue. when the president is now demanding that raising the nation's debt ceiling combined in this deal. what republicans like mitch mcconnell think is going on the president just wants to spend more money. listen. >> what the president is really interested in as we learned just yesterday, is getting as much taxpayer money as he can first by raising taxes on small business that he believes are making too much money and then on everybody else. not so he can lower the debt or the deficit but so he can spend to his heart's content. as a result some democrats have pushed the president to just raise the nation's debt ceiling on his own. they believe he has that executive power by invoking the 14th amendment of the constitution. but jay jay cancer carney the white house spokesman has studied tha
cliff balance. >> that's right. they say he is focused as you heard in that sound bite about taxes and that part of it. they are not hearing a lot about spending cuts which republicans obviously think is the big driver of the debt issue. when the president is now demanding that raising the nation's debt ceiling combined in this deal. what republicans like mitch mcconnell think is going on the president just wants to spend more money. listen. >> what the president is really...
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dollar now threatening that we will go over the fiscal cliff. there's such a huge disconnect here, there's no backlash really about that, but there's backlash against ceo's speaking out. stuart: i can see that it. you're right, charles, take a victory lap. they've backed off. charles: this is not the kind of thing that you want a victory lap on. it's scary and i first thing you see is 2012 communities service report and the next thing on sustainability and another piece, 100 best companies to work for. you wouldn't know it's a restaurant company. these companies are bending over backwards to appease the media and the white house's agenda. stuarr: all right, charles, a victory lap. and everybody we've got two new at ten stories and both cost a whole lot of money of the first, the department of energy spending 120 million dollars for an electric battery research facility. and how this administration's track record on green energy investments is your money by the way. second, fast fooddchains forced to put calorie counts on their menus under obamac
dollar now threatening that we will go over the fiscal cliff. there's such a huge disconnect here, there's no backlash really about that, but there's backlash against ceo's speaking out. stuart: i can see that it. you're right, charles, take a victory lap. they've backed off. charles: this is not the kind of thing that you want a victory lap on. it's scary and i first thing you see is 2012 communities service report and the next thing on sustainability and another piece, 100 best companies to...
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Dec 5, 2012
12/12
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cliff. talks in washington are going nowhere. some republicans are speaking out against the gop's plans to fix the problem presented this week by house speaker john boehner. dana bash has the details. >> rates are going up they have to go up. >> the fact that the house gop leaders propose raising $800 billion in taxes is ruffling feathers in their own party. >> republicans should not be conceding that the federal government needs more money negotiating with ourselves entry in the president's proposal like it is serious. >> gop senator jim demint said anti-government anti- tax paris. >> there are some that want to go the politically expedient route to give the president what he wants to get out of this mess. >> he is hardly the conservative upset with house republican leaders. the conservative action networks in this alert supporters sang card rep tell your representative tax hikes are not part of the solution. the e-mail included a not so subtle threat saying this infamous pledge cost george
cliff. talks in washington are going nowhere. some republicans are speaking out against the gop's plans to fix the problem presented this week by house speaker john boehner. dana bash has the details. >> rates are going up they have to go up. >> the fact that the house gop leaders propose raising $800 billion in taxes is ruffling feathers in their own party. >> republicans should not be conceding that the federal government needs more money negotiating with ourselves entry in...
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the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of fracturing that we're doing, the fact that housing has been doing tremendously well, and interest rates remain very low with prices, so there's some sense that there's a bit of a renaissance on the horizon, and if the government doesn't mess that up too much, 2013 could end up being as good as 2012 if not a little better. i don't know if you completely disagree with that, peter, but i think there's enough good going on that it could offset the bad. >> to you think it could go up to 10% unemployment. do you agree with peter on that? >> i don't know. i don't know if it will go go up
the spending cuts that would be imposed by the fiscal cliff would be devastating. it would send unemployment higher. it would cost jobs. the republicans, as peter says, are going to insist on some cuts anyway, so bottom line is we are going to see a weaker economy into the beginning of next year. probably one way or the other. now, the counter to that, peter, is that there are forces in the economy that are strengthening it. this energy boom that we've got, the natural gas, the amount of...
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Dec 1, 2012
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we begin this morning with the so-called fiscal cliff one from today unless washington gets its act together 90% of americans will see their taxes rise as a series of tax increase and spending cuts take effect. yet negotiations between the white house and congressional republicans are at a standstill. anna werner is in our washington bureau. good morning. >> reporter: good morning. unless congress comes to an agreement on the fiscal cliff it would mean a tax hike plus some $65 billion would be cut from the pentagon and other government agencies. both sides are hoping for a compromise. but so far all there's been is debate. >> i've been keeping my own naughty and nice list for washington. >> reporter: president obama took his fight to the public while visiting a toy company in pennsylvania where he warned republicans not to play scrooge. >> it's not acceptable to me and i don't think it's acceptable for you for a handful of republicans to hold middle class tax cuts held hostage. >> reporter: the white house proposal includes $4 trillion in deficit reduction, $400 billion in cuts to entitlemen
we begin this morning with the so-called fiscal cliff one from today unless washington gets its act together 90% of americans will see their taxes rise as a series of tax increase and spending cuts take effect. yet negotiations between the white house and congressional republicans are at a standstill. anna werner is in our washington bureau. good morning. >> reporter: good morning. unless congress comes to an agreement on the fiscal cliff it would mean a tax hike plus some $65 billion...
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Dec 6, 2012
12/12
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fiscal cliff. what those tax increases mean to an average american family of four earning $50,000 a year is over $2,000 in higher income taxes. add to that expiration of the alternative minimum tax patch, new taxes mandated by the federal health care bill, and the reinstatement of the death tax, which will impact the next generation of farmers, ranchers, and small business owners, which americans will see the largest tax increase in the history of our country. if all of this happens, the congressional budget office predicts the nation's economy will shrink next year and the unemployment rate could rise again. in other words, we go back into recession. i believe we can avoid the fiscal cliff and address our massive deficit but that requires doing three essential things: reforming our tax code, reforming entitlement programs, and better controlling our spending. we can get additional revenue by reforming our tax code. that means closing loopholes and limiting deductions. by closing loopholes and limi
fiscal cliff. what those tax increases mean to an average american family of four earning $50,000 a year is over $2,000 in higher income taxes. add to that expiration of the alternative minimum tax patch, new taxes mandated by the federal health care bill, and the reinstatement of the death tax, which will impact the next generation of farmers, ranchers, and small business owners, which americans will see the largest tax increase in the history of our country. if all of this happens, the...
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Dec 6, 2012
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spending cuts and tax increases. we have been saying this for weeks. they will kick in if a budget agreement is not reached by year's end. >>> a number of state lawmakers had their cars fixed and you paid for it. lawmakers lost the perk of a free car about a year ago at least 37 of them deciding to buy the cars. that was an option. they have been using them when the state sold them. first they had all the cars repaired and maintained at state expense. $78,000 worth of work. >> as a taxpayer, you know, it's my money going to it so it's frustrating. >> doesn't sound fair. we work really hard for our money. >> we do. but a source in the legislature says the work was worth it. the state got more money when it sold the cars that were not bought by the lawmakers but had the repairs done. they got more money for those cars. so i guess it evens out. >>> same-sex marriage is now legal in the state of washington. dozens of gay and lesbians got in line to pick up marriage licenses at the county courthouse of every in seattle. g
spending cuts and tax increases. we have been saying this for weeks. they will kick in if a budget agreement is not reached by year's end. >>> a number of state lawmakers had their cars fixed and you paid for it. lawmakers lost the perk of a free car about a year ago at least 37 of them deciding to buy the cars. that was an option. they have been using them when the state sold them. first they had all the cars repaired and maintained at state expense. $78,000 worth of work. >> as...
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Nov 29, 2012
11/12
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the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual meetings with the top four leaders of congress. what republicans have said they want to hear, and republicans will be critical, because they need republican support to get any final fiscal cliff deal through the senate, and also through the house, they say they hope that he's coming with concrete spending cut ideas that are acceptable to the administration. one of the meetings today will be with senate republican leader mitch mcconnell who a short time ago sounded pretty fired up. >> the only reason democrats are insisting on raising rates is because raising rates on the so-called rich is the holy gr
the deal is to avoid a series of tax increases, and spending cuts that many believe would be a fiscal cliff that would kick in on january the 1st. chief congressional correspondent mike emanuel is watching it all unfold on capitol hill. what do we know about the visit about the expectations for what might happen during it. >> reporter: martha, timothy geithner arrived here on capitol hill a short time ago to meet first with senate majority leader harry reid. we know he's having individual...
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that's what the fiscal cliff is all about. it would all start with the start of the new year. i want to get to senator jeff merkley. he's a democrat from the state of oregon. he's on both the budget committee and the banking, housing, and urban affairs committee. nice to have you with us, sir. thanks for joining us. >> you're welcome. >> thank you. before we get to fiscal cliff, let's talk a little bit about syria. there are now reports that they may be loading the components that would make up sarin gas. and i'm curious to know and i think a lot of people are watching this, does this mean that we are headed, the united states is headed into military action considering what we know about the red line, if you will, that hillary clinton laid out pretty clearly? >> it was very important for her to draw a very clear line. because any use of chemical weapons has to be responded to internationally. i'm sure the secretary of state is immersed with russia right now, is in negotiations with russia for a united front against this absolutely unacceptable possibility. >> okay. so she's la
that's what the fiscal cliff is all about. it would all start with the start of the new year. i want to get to senator jeff merkley. he's a democrat from the state of oregon. he's on both the budget committee and the banking, housing, and urban affairs committee. nice to have you with us, sir. thanks for joining us. >> you're welcome. >> thank you. before we get to fiscal cliff, let's talk a little bit about syria. there are now reports that they may be loading the components that...
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the clock particulars towards that fiscal cliff deadline on january 11. mike emanuel is live. we are still getting hard lines from either side about where they stand on this. what is really happening behind the closed doors? are they closer to a dole? >> reporter: jenna you're right about a lot of tough talk in public, but behind closed doors we know the president, the speaker of the house john boehner had a phone call late yesterday, the first call they had in a week. there has not been much in the way of leaks as to what was discussed. most folks on capitol hill may suggest that no leaks means they are getting down to serious movement on finding a compromise to avert the fiscal cliff. because in public the treasury secretary was asked yesterday if the administration is prepared to go over the fiscal cliff. check this out. >> is the administration prepared to go over the fiscal cliff. >> absolutely. we see no prospects for an agreement that doesn't involve those rates going up on the top 2% of the wealthist. remember it's only 2%. >> reporter: most peopl
the clock particulars towards that fiscal cliff deadline on january 11. mike emanuel is live. we are still getting hard lines from either side about where they stand on this. what is really happening behind the closed doors? are they closer to a dole? >> reporter: jenna you're right about a lot of tough talk in public, but behind closed doors we know the president, the speaker of the house john boehner had a phone call late yesterday, the first call they had in a week. there has not been...
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Dec 4, 2012
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cliff. i think the shared concerns of governors that we address are fiscal challenges in a way that ensures the economy continues to grow and create jobs. with that, i'll take your questions. >> thanks, jay. two questions. in the bloomberg interview, the president was asked whether tax rates on the wealthiest americans have to go to the clean ton levels, 39.6% now. is that a red line? he never answered it directly, a process where rates could go down next year as far as tax reform. you talked with fiscal rates need to go up. what he campaigned on was the 39.6 at the end of the year. is that the case? >> so, let me say this, the president has been absolutely clear, as have i, that rates have to go up on top earners, on millionaires and billionaires, those making over $250,000. the president made that clear all yearlong and clear in the post-election period being engaged in conversations with congress about how to deal with the fiscal cliff, and our long term deficit challenges. we have yet to
cliff. i think the shared concerns of governors that we address are fiscal challenges in a way that ensures the economy continues to grow and create jobs. with that, i'll take your questions. >> thanks, jay. two questions. in the bloomberg interview, the president was asked whether tax rates on the wealthiest americans have to go to the clean ton levels, 39.6% now. is that a red line? he never answered it directly, a process where rates could go down next year as far as tax reform. you...
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a series of tax cuts and spending cuts set to kick in just 26 shopping days until the fiscal cliff. >> brian: less working days. >> steve: that's right. house republicans say there will be no deal if tax ritz go up and the obama administration says it's ready to go thelma and louise style over the cliff on january 1. if that's the case, wendell goler live at the white house with what we know is going on behind the scenes. anything happening? >> steve, the president and house speaker john boehner talked on the phone yesterday, but they agreed not to characterize their conversation. so it's unclear how much progress they made. from the outside, it does seem they've moved a bit closer with boehner now agreeing to raise tax collection from the wealthy, though not by raising tax rates. >> we've got to cut spending and i believe to put revenues on the table. the revenues we're putting on the table will come from, guess who, the rich! there are ways to limit deductions, close loopholes, and have the same people pay more of their money to the federal government without raising tax rates which
a series of tax cuts and spending cuts set to kick in just 26 shopping days until the fiscal cliff. >> brian: less working days. >> steve: that's right. house republicans say there will be no deal if tax ritz go up and the obama administration says it's ready to go thelma and louise style over the cliff on january 1. if that's the case, wendell goler live at the white house with what we know is going on behind the scenes. anything happening? >> steve, the president and house...
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Dec 3, 2012
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they're both accusing the other of pushing the nation toward the fiscal cliff. in fact republicans say democrats are driving us at high speed toward the cliff like "thelma & louise". intellectually we know it is likely democrats will agree to more spending cuts than they want. republicans will give on tax revenue. republicans say though will not raise tax rates treasury secretary geithner says they will have to. >> there is no path to an agreement, there does not involve republicans acknowledging that rates have to go up for the wealthiest americans. there is no way to raise a meaningful amount of revenue relative to the size of our fiscal challenges by limiting value of deductions to wealthiest americans. there is just not enough room there. >> reporter: geithner says he will believe there is an agreement because the alternative is unthinkable. time is running out as you point out, bill. bill: on a tenuous economy too. what are republicans say, wendell? >> reporter: john baker says they don't have a starting point with democrats refusing to say what spending cu
they're both accusing the other of pushing the nation toward the fiscal cliff. in fact republicans say democrats are driving us at high speed toward the cliff like "thelma & louise". intellectually we know it is likely democrats will agree to more spending cuts than they want. republicans will give on tax revenue. republicans say though will not raise tax rates treasury secretary geithner says they will have to. >> there is no path to an agreement, there does not involve...
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Dec 7, 2012
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there really is a fiscal cliff and concern about rising taxes in those consumer sentiment numbers creeping in and those higher income households pulled back on spending expectations on big ticket items of vehicles and appliances and consumer durables. that's significant. in terms of sandy, one thing i would note is on unemployment survey it was taken on november 5th, the day before the election. remember, there was a nor'easter a few days later that compounded some of the disruptions related to sandy and many of the unemployment insurance claims because people couldn't get out to make the unemployment claims didn't occur until the peak in the middle of november. i think the timing of this survey really did matter in this. steve made a good point on earlier than usual thanksgiving maybe swamping some of the retail effects that we would have seen from sandy because of the seasonals and the way the data was captured. i don't think underlying economy is that much stronger with downward revisions we saw in previous months. i do think the fact that timing and nor'easter was also in here and that
there really is a fiscal cliff and concern about rising taxes in those consumer sentiment numbers creeping in and those higher income households pulled back on spending expectations on big ticket items of vehicles and appliances and consumer durables. that's significant. in terms of sandy, one thing i would note is on unemployment survey it was taken on november 5th, the day before the election. remember, there was a nor'easter a few days later that compounded some of the disruptions related to...
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the effects of the fiscal cliff are already holding back some things. >> of course. what stood out to me from howard schultz, the people that need it the most, the average american will feel this to the core. confidence is the corner stone. >> it makes you make decisions, big decisions, small decisions. i'm not going to buy that or do that, i'm scared to death. here's my question for the two of you. are more big ceos falling in line with the yes, let's raise the taxes on the 2%? >> if i don't know if a majority. would you say a majority? >> i think they want a deal and people have to make -- it's hard to make compromises. >> we've heard it from goldman sac sachs, warren buffett, schultz. >> big names there. >> they want clarity. the interesting thing to me, the stock market and bond market haven't freaked out yet about this. people in the stock market saying they're not stupid enough to let us go there. >> to let this happen. >> i hope they'll get something done. >> gosh, i hope so. >> thank you. >>> 25 minutes past the hour. an awards season shocker at the company t
the effects of the fiscal cliff are already holding back some things. >> of course. what stood out to me from howard schultz, the people that need it the most, the average american will feel this to the core. confidence is the corner stone. >> it makes you make decisions, big decisions, small decisions. i'm not going to buy that or do that, i'm scared to death. here's my question for the two of you. are more big ceos falling in line with the yes, let's raise the taxes on the 2%?...
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now, the automatic spending cuts that would kick in if congress does not reach an agreement on the fiscal cliff would force the pentagon to slice about 10% of the budget. the defense industry projects one in five defense contracts in california would be lost. the aerospace industry is projecting that 135,000 department jobs would be cut along with 90,000 jobs for a total of about 225,000 jobs lost in california over the next few years. alison burns, ktvu channel 2 news. >>> 8:16. well, today will mark the 9 oth annual lighting of the national christmas tree. president obama and his family, they will flip a switch lighting that tree this evening. neil patrick harris, remember doogie howser? he will be hosting the event. james taylor and the fray will be among the group of perform. president calvin coolidge started this tradition back in 1923. >>> well, free flu shouts are offered for all bay area youth between the ages of 4 and 18 at pharmacies at most local target stores. the paige family foundation set up by larry paige and his wife, they are paying for those flu shots. the adults often
now, the automatic spending cuts that would kick in if congress does not reach an agreement on the fiscal cliff would force the pentagon to slice about 10% of the budget. the defense industry projects one in five defense contracts in california would be lost. the aerospace industry is projecting that 135,000 department jobs would be cut along with 90,000 jobs for a total of about 225,000 jobs lost in california over the next few years. alison burns, ktvu channel 2 news. >>> 8:16. well,...
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Dec 6, 2012
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cliff, and he's clearly not interested at all in cutting any spending. what the president is really interested in, as we learned just yesterday, is getting as much taxpayer money as he can, first, by raising taxes on small business that he believes are making too much money and then on everybody else, not so he can lower the debt or the deficit but so he can spend to his heart's contefnlts for months the president has been saying all he wants is to raise taxes on the top 2% so he can tackle the debt and the deficit. however, yesterday he finally revealed that's not really his true intent. by demanding the power to raise the debt limit whenever he wants, by as much as he wants, he showed what he's really after is assuming unprecedented power to spend taxpayer dollars without any limit at all. this isn't about getting a handle on deficits or debt for him. it's about spending even more than he already has. why else would he demand the power to raise the debt limit on his own? by the way, why on earth would we ever consider giving a president who's brought u
cliff, and he's clearly not interested at all in cutting any spending. what the president is really interested in, as we learned just yesterday, is getting as much taxpayer money as he can, first, by raising taxes on small business that he believes are making too much money and then on everybody else, not so he can lower the debt or the deficit but so he can spend to his heart's contefnlts for months the president has been saying all he wants is to raise taxes on the top 2% so he can tackle the...
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cliff. >> if you're really going to be serious about deficit reduction, it can't just be about taxes. it has to be about spending cuts, too. >>> prince william's wife catherine is out of the hospital after treatment for acute morning sickness. >> reporter: we were told from the beginning that this hospital stay would last 18 days and that's exactly what it turned out to be. >>> software developer john mcafee is no longer a fugitive, arrested in guatemala a month after his neighbor in belize was murdered. >>> the creators of cell phone technology pinpointed mcafee's location. police didn't know where he was. >> reporter: now that marijuana is legal here in washington, the state is going to start collecting taxes on it. >> "gangnam style." >> there is no one in political life funnier than alan simpson. >> mayor michael bloomberg announced that new york will hold a contest to redesign the city's pay phones. yeah. the top prize, a brand-new walkman. >> announcer: the "eye opener" at 8:00 is brought to you by the aarp. >>> i'm charlie rose with gayle king and norah o'donnell. this morning
cliff. >> if you're really going to be serious about deficit reduction, it can't just be about taxes. it has to be about spending cuts, too. >>> prince william's wife catherine is out of the hospital after treatment for acute morning sickness. >> reporter: we were told from the beginning that this hospital stay would last 18 days and that's exactly what it turned out to be. >>> software developer john mcafee is no longer a fugitive, arrested in guatemala a month...
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but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of getting close to it, the president has to be able to pivot and to say how do i turn this political advantage into a real policy accomplishment? and, wolf, i don't think you're going to do that with continued campaign style events like we just saw meeting with middle class families. okay. we get that. that occurred during the campaign. the white house has clearly gotten its message out. i think now there has to be a next step. you know, timing is everything in politics. and this is absolutely no different. what i'm getting from talking to some democrats on the hill is i think there's actually a lot of pen
but if there's no deal and the country goes over that fiscal cliff, taxes go up for everyone, mandatory spending cuts go into effect, a lot of folks are going to say where was the president? he was just re-elected. why couldn't he put together a package, a deal to avoid this disaster? >> i think this is a question of political leadership. and as that poll showed, there's no doubt that the president has the political advantage going into this. but at some point, and i think we're kind of...
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Dec 7, 2012
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it's one of the reasons why the fiscal cliff could be as bad for the economy. if state and local governments are continue to cut back or not spend, still hoarding catchsh and consumers aren't spending ex is for a new iphone the one positive input to the gdp right now, maybe not in six months but right now, the one positive input is the fed recall government. if the federal government through the fiscal cliff is going to withdraw $600,000,000,000, which is what the live would do, it will throw us back into a recession. >> that's just what we don't need now. >> bill: i was going to ask you and i think you are getting to it already is what now does president -- two things: what does president obama say he will have an opportunity somewhere today, what does he say about these numbers? two, can he use these numbers to bolster his case for a deal on the fiscal cliff? >> the answer first of all, f they were to dahl me i would say don't take a victory lap because it's 7.7% unemployment. if you are under employed or you have stopped looking or don't have a job at all, y
it's one of the reasons why the fiscal cliff could be as bad for the economy. if state and local governments are continue to cut back or not spend, still hoarding catchsh and consumers aren't spending ex is for a new iphone the one positive input to the gdp right now, maybe not in six months but right now, the one positive input is the fed recall government. if the federal government through the fiscal cliff is going to withdraw $600,000,000,000, which is what the live would do, it will throw...
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if congress allows the country to go over the fiscal cliff, the effects felt here could be dramatic. first and foremost, there's the rock island arsenal. if congress doesn't act, defense spending will be slashed by 55 billion next year, 450 billion over ten years, which many fear could put the arsenal in jeopardy. established in 1862, the arsenal is home to the army sustainment command, the first army, and the national cemetery. it's also the largest government run military manufacturing facility in the country. the arsenal is the area's largest employer, and though it is not clear how any cuts would impact the installation specifically, the mere prospect has people worried. >> there's approximately 8,000 jobs on arsenal island with various commands located there, and the average salary, not including benefits is about double on the island what it is off island. >> reporter: next, health care, another major employer in the quad cities. if congress doesn't act, medicare reimbursements will initially drop by 2%. trinity medical center in rock island is already budgeting for the fiscal
if congress allows the country to go over the fiscal cliff, the effects felt here could be dramatic. first and foremost, there's the rock island arsenal. if congress doesn't act, defense spending will be slashed by 55 billion next year, 450 billion over ten years, which many fear could put the arsenal in jeopardy. established in 1862, the arsenal is home to the army sustainment command, the first army, and the national cemetery. it's also the largest government run military manufacturing...
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they're the ones who brought us to the fiscal cliff as we were talking yesterday because their super committee failed to do its job and now we have the sequestration hanging over our heads. >> they constantly create a situation, try to blame obama. >> bill: kevin, do you think we dare say look, hold the line and if you don't raise rates on the top 2%, we're not going to make a deal? >> absolutely. hold the line. i'll gladly pay more taxes than to have some rich son of a bitch pay more. >> bill: you and me both. that's all right. i'm willing to do it. i am a patriotic millionaire. i ought to -- i should join the club. thanks, kevin for the call. >> announcer: this is the "bill press show." which was just as you say -- maybe it was starve the beast. i'll look it up during the break. going to do the young turks. i think the number one thing that viewers like about the young turks is that we're honest. they know that i'm not bs'ing them with some hidden agenda, actually supporting one party or the other. when the democrats are wrong, they know that i'm going to be the first one to call t
they're the ones who brought us to the fiscal cliff as we were talking yesterday because their super committee failed to do its job and now we have the sequestration hanging over our heads. >> they constantly create a situation, try to blame obama. >> bill: kevin, do you think we dare say look, hold the line and if you don't raise rates on the top 2%, we're not going to make a deal? >> absolutely. hold the line. i'll gladly pay more taxes than to have some rich son of a bitch...